Hill International Announces $54M Contract from Basra Governorate in Iraq
Hill International (NYSE: HIL) announced today that it has received a contract from the Governorate of Basra in Iraq to provide program management services in connection with Basra's 2040 Strategic Plan, which involves rehabilitation of existing projects and the construction of new projects related to Basra's infrastructure throughout the region. The one-year contract which is automatically renewable for an additional two years has an estimated value to Hill of approximately $54 million over the full three-year contract term.
Pursuant to the contract, Hill will be providing consulting services to assist with the management of Basra's capital projects by developing strategies for infrastructure planning and rehabilitation, overseeing the implementation of project designs, assisting with the qualification of contractors, reviewing project bids, providing on-site supervision, and auditing contract advances and payments. The Governorate of Basra has an estimated capital budget of $30 billion over the next three years.
"We are honored to be part of this ambitious program that will positively affect the residents of Basra," said Mohammed Al Rais, Senior Vice President and Managing Director (Middle East) for Hill's Project Management Group. "We are confident that